TORONTO, Sept 23 (Reuters) - Smartphone maker BlackBerry
has agreed to go private in a $4.7 billion deal led by
its biggest shareholder, allowing the on-the-go email pioneer to
regroup away from public scrutiny after years of falling
fortunes and slumping market share.

The $9 a share tentative offer, from a consortium led by
property and casualty insurer Fairfax Financial Holdings Ltd
, will set a floor for any counteroffers that might
emerge for Blackberry, which has been on the block since August.

As an investor, Fairfax Chief Executive Prem Watsa is often
described as the Canadian Warren Buffett because he also takes
the long view.

Blackberry shares peaked above $148 in June 2008 when the
company's devices were still the top choice for bankers,
politicians and lawyers.

The stock, halted pending the announcement on Monday, closed
below the offer price on Nasdaq, at $8.82, indicating the
market's lack of faith that other bids would emerge.

"I would think a competing buyout offer is quite unlikely,"
said Elvis Picardo, strategist at Global Securities in
Vancouver. "The miniscule premium, and the muted market
reaction, is another indication that the market views the odds
of a competing bid as slim."

BlackBerry, based in Waterloo, Ontario, once dominated the
market for secure on-your-hip email. But it introduced
consumer-friendly touchscreen smartphones only after it lost the
lead to Apple Inc's iPhone and devices using Google
Inc's Android operating system.
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